Jessica Mousseau is a copywriter & copy editor from the United States. Her work can be viewed at: www.jessicamousseau.com.
Published June 18th 2011
Have you ever wondered exactly what the Federal Reserve Bank is? Have you ever wanted to see the place that is frequently mentioned in financial reports and news articles? You can do that when you're in New York City, because it is one of the twelve that are located throughout the country.
What the Federal Reserve Bank does
Briefly, the Federal Reserve Bank is responsible for the formulation and execution of policy concerning matters of money. It is also responsible for the supervision and regulation of institutions that accept deposits (such as banks). The Federal Reserve Bank also helps the federal government with its financial operations. In fact, you can say that the Federal Reserve Bank serves as the U. S. Government's banker.
Touring the Federal Reserve Bank
You can actually take a tour of the Federal Reserve Bank. The tour is a lot of fun and very informative. Reservations are required, so make sure you've taken care of that before you go. You can't just "show up." During the tour, you'll get a brief overview of how the Federal Reserve System operates. (You'll already be ahead of everyone else, because you read this article.) You'll also watch a video that shows how the cash processing facility operates. Then, you'll actually get to go on a guided tour of the gold vault, where the gold reserves are kept. This will be fascinating.
After your tour, you'll be granted access to the Federal Reserve Museum. Here you'll see displays such as "Fed Works", "Drachmas, Doubloons, and Dollars" (this one teaches you all about the history of money, and "Cultural Change: Coins of the Holy Land.
You can also visit the museum without taking the tour. Reservations aren't required, but you may have a better chance of getting in without a long wait if you go ahead and make some.
After you've toured the Federal Reserve Bank in New York, perhaps you'll have a better understanding of just what goes into the distribution and oversight of our country's money. If nothing else, you'll probably be thankful that the federal employees at the Federal Reserve Bank in New York are the ones who have to worry about all that money, and not you.
You'll leave the tour with some money that came straight from the Federal Reserve Bank. Of course, it will be shredded, with no hope that it can be pieced back together, but it would still make a pretty cool souvenir.